Hong Kong Woman Loses HK$7.7 Million in AI Investment Scam, Police Receive Over 80 Similar Cases in a Week

BroadChain learned that on April 19, according to Bitcoinist, a Hong Kong woman realized that the cryptocurrency investment platform she was using was fake and her funds were irrecoverable only after multiple withdrawal requests were rejected. She had transferred USDT and Ethereum to the fraudulent platform in 17 separate transactions, resulting in a loss of approximately HK$7.7 million (about $982,000). The scam originated on Telegram, where a person posing as an investment expert promoted a so-called AI trading strategy and promised guaranteed returns.

Hong Kong police have confirmed the case and stated that there has been a sharp increase in online investment fraud cases recently, with over 80 similar cases recorded in just one week, resulting in total losses exceeding HK$80 million (about $10 million). Security company Vectra pointed out that AI scams are now categorized into seven major types, with deepfake videos, voice cloning, and AI-driven business email fraud posing the greatest threats to enterprises.

Last month, a 66-year-old retiree also lost HK$6.6 million in a complex scam that lasted six months. Police noted that fraud techniques are becoming increasingly sophisticated, with scammers often using tech jargon like "AI trading" and "guaranteed profits" to enhance credibility. They urged the public to remain vigilant against unsolicited investment advice and recommended using the official "CyberDefender" platform to verify website authenticity.

Police emphasized that no legitimate investment can guarantee returns, and all recent cases have involved such promises. Related investigations are ongoing.